Any profitable inquiry into the character of the American State must therefore take into account the distinction between making a living by production and gaining a living by predation; that is, between economics and politics.

In every trade, a person is giving up something he values less for something he values more. Every time a shopper buys any item from another person, he has improved his standard of living, and so has the seller.

Among themselves, libertarians often see important dividing lines among various factions in terms of social views and lifestyles. But most on the outside define libertarianism as being overwhelmingly for one thing: excessive and "dogmatic" devotion to free markets.